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France lends Tunisia 350 million euros to finance economic reforms

10/23/2020 | 04:58am EST
French President Emmanuel Macron and Tunisian President Kais Saied during a joint news conference after their meeting at the Elysee Palace in Paris

TUNIS (Reuters) - France will lend Tunisia 350 million euros ($415 mln) over three years to finance economic reforms and support the public finances through the shock of the coronavirus pandemic under an agreement signed on Thursday.

The North African country is expecting its economy to contract by 7% this year and the fiscal deficit is forecast to reach a four-decade high of 14%.

The French loan will be disbursed in tranches, in 2020, 2021 and 2022.

France will also grant Tunisia medical aid to face coronavirus outbreak, French Foreign Minister Jean-Yves Le Drian said after meeting President Kais Saied and Prime Minister Hichem Mechichi? ?in Tunisia on Thursday.

(Reporting By Tarek Amara; Editing by Catherine Evans)


© Reuters 2020
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